Published: 2026-07-17T01:35:36.000Z
Chart GBP/USD Update: Consolidating, room for higher later
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Sharp pullback from resistance at the 1.3550 congestion see prices correcting short-term overbought condition
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3700 | * | congestion | S1 | 1.3450 | ** | 10 Jul high, congestion | |
| R3 | 1.3650 | ** | May high | S2 | 1.3400 | * | congestion | |
| R2 | 1.3600 | * | congestion | S3 | 1.3342 | * | 13 Jul low | |
| R1 | 1.3550 | * | congestion | S4 | 1.3300 | ** | May low |
Asterisk denotes strength of level
01:30 GMT - Sharp pullback from resistance at the 1.3550 congestion see prices correcting short-term overbought condition following sharp rally from the Monday's low. Pullback below the 1.3500 level see strong support at 1.3450 high of 10 July expected to underpin and give way to renewed buying interest. Meanwhile, break above 1.3550 will open up room for stronger gains to extend bounce from the 1.3140 June current year low to target 1.3600 level. Beyond this will see potential for retest of the 1.3650 May high.